Monday, December 1, 2014

General Economics

Wall Street Journal | Oil Slide Deepens, Ruble Crumbles
The persistent slump in oil prices continued to weigh on global markets Monday, hammering the Russian ruble in particular.
Wall Street Journal | Fresh Signs of a Global Slump Pose a Challenge to U.S.
Economic prospects are flagging across Europe, Japan and big emerging markets such as India, a turn that presents fresh challenges to the relatively robust U.S. economy at a time when the world needs a dependable growth engine.
Market Watch | Here’s what we know about the U.S. economy after a two-day data deluge
After an outpouring of at least 11 different economic indicators in just two days’ time, here’s what we know now about the U.S. economy.

Econ Comments & Analysis                                                                                            
Forbes | Of Course The Keynesian Model Is True; That's How We Define The Keynesian Model
Scott Sumner points us to this interesting proof that the Keynesian economic model must be true. For the Financial Times is crowing about the fact that when government spending rises then so does GDP.
Forbes | Is OPEC A Toothless Tiger?
OPEC MET THIS WEEK and decided not to cut the oil production quotas of its members. Petroleum prices took a hit. But don’t be deceived. OPEC’s impact on prices is grossly exaggerated. Speculators believed OPEC would magically pull a rabbit out of the hat. But OPEC doesn’t even have a hat, much less a rabbit.